Liberty to develop and integrate retrofit kits for improved airport security checkpoint passenger screening with next generation, advanced imaging technology
WILMINGTON, Mass., June 16, 2022 /PRNewswire/ - Liberty Defense Holdings Ltd. ("Liberty" or the "Company") (TSXV: SCAN) (OTCQB: LDDFF) (FRANKFURT: LD2A), a leading technology provider of detection solutions for concealed weapons and threats, is pleased to announce that it has been awarded a contract for next generation airport checkpoint screening from Battelle to collaboratively develop, integrate, and test HD-AIT upgrade kits.
Battelle, located in Columbus Ohio, is the world's largest independent research and development organization.
Liberty Defense previously licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe screener technologies as part of its on-going relationship with Battelle in March of 2021. Both technologies were developed by researchers at the Pacific Northwest National Laboratory (PNNL), funded by U.S. Department of Homeland Security Science and Technology Directorate (DHS S&T) on behalf of the Transportation Security Administration mission. PNNL is one of eight U.S. Department of Energy national laboratories managed by Battelle. The HD-AIT next-generation people screening technology platform for threat detection is capable of high-definition imaging resulting in greater detection, with an arms down pose for a better passenger experience.
"Today's aviation security requires improved detection capability to meet evolving threats," says Liberty President & CTO Michael Lanzaro. "We licensed the HD-AIT technology to support the development and commercialization of this leading-edge platform, and we look forward to working with the Battelle and PNNL teams towards this end."
Liberty's experienced engineering and product development team will assist PNNL in the design, integration, testing, and delivery of the Retrofit Kit Assembly for DHS S&T.
In addition, pursuant to the Company's omnibus long-term incentive plan, the Company granted on May 26, 2022, a total of 113,405 restricted share units ("RSUs") to an officer of the Company. All RSUs vest at 100% after 12 months from the date of grant, expiring on May 26, 2027.
All RSUs are subject to the terms of the Company's omnibus long-term incentive plan and applicable securities law hold periods. The purpose of the omnibus long-term incentive plan is to promote greater alignment of interests between employees and shareholders, and to support the achievement of the Company's longerterm performance objectives, while providing a long-term retention element. Disclosure documents concerning the equity incentive plan are available online at www.sedar.com.
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On Behalf of Liberty Defense
CEO & Director
About Liberty Defense
Liberty Defense (TSXV: SCAN) (OTCQB: LDDFF) (FRANKFURT: LD2A) provides multi-technology security solutions for concealed weapons detection in high volume foot traffic areas and locations requiring enhanced security such as airports, stadiums, schools, and more. Liberty's HEXWAVE product, for which the company has secured an exclusive license from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement for patents related to active 3D radar imaging technology, provides discrete, modular, and scalable protection to provide layered, stand-off detection capability of metallic and non-metallic weapons. Liberty has also recently licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe scanner technologies as part of its technology portfolio. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com
Every day, the people of Battelle apply science and technology to solving what matters most. At major technology centers and national laboratories around the world, Battelle conducts research and development, designs and manufactures products, and delivers critical services for government and commercial customers. Headquartered in Columbus, Ohio since its founding in 1929, Battelle serves the national security, health and life sciences, and energy and environmental industries. For more information, visit www.battelle.org. For further information, contact Katy Delaney at (614) 424-7208 or at firstname.lastname@example.org or contact T.R. Massey at (614) 424-5544 or at email@example.com.
When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although Liberty believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. Such statements and information reflect the current view of Liberty. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are a number of important factors that could cause Liberty's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; and general development, market and industry conditions. The parties undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of their securities or their respective financial or operating results (as applicable).
Liberty cautions that the foregoing list of material factors is not exhaustive. When relying on Liberty's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Liberty has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Liberty as of the date of this press release and, accordingly, are subject to change after such date. Liberty does not undertake to update this information at any particular time except as required in accordance with applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
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SOURCE Liberty Defense Holdings Ltd.